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Serhud [2]
4 years ago
13

If an asymmetry of information is removed and laborers' preferences change against employment in a labor market, it would ______

____ employment and __________ the wage at the equilibrium in the market.
Business
1 answer:
alex41 [277]4 years ago
7 0

Answer:

Reduce Employment, Increase Wage rate

Explanation:

Labour supply is an upward sloping curve, as labour supplied is directly related with wage rate. Asymmetry of Information is when one economic party has more & superior information than other economic party, in an economic transaction.

Asymmetric Information could be also between employers & employees : Eg 1 - Employee having more information about their capabilities than employers, Eg 2 - Employers having more information about output value of employees work, than employees.

Eg -2 suits the given case : Labourers / Employees preferences change against employment. This could be when labourers learn about the previous asymmetric information of - them being paid much less than value of their production, employers retain all the surplus value for themselves.

This would decrease the labour supply, shift the upward sloping labour supply curve leftwards. It would create excess demand of labour, would create competition among buyers (employers). So, the new equilibrium would be determined at higher wage, less employment.

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Snow blowers are sold in areas where there is a longer cold season and the likelihood of snow. the consumer market for snow blow
iVinArrow [24]

The answer to this question is an example of geographic segmentation. Geographic segmentation is dividing the market or consumers depending on the location or geography. This kind of marketing strategy is often used by small businesses Geographic segmentation is segmenting the market thru cities, country, and regions.

5 0
4 years ago
Determine the finance charge on a 8,000 loan with a monthly payment of 162,80 for 60 months
Fittoniya [83]
Well 162,80 divided by 8,000 is 2.035 so thats going to be your answer hope this helps
5 0
3 years ago
Reflect on a time when you recently traded or bought an item. Describe this exchange, using the following economic terms: volunt
stellarik [79]

A purchase or an exchange can be understood as economic processes that use monetary or non-monetary funds, and that occur to satisfy certain needs of individuals and organizations.

<h3 /><h3>Buyer Decision Process</h3>

It occurs from a decision on the need to carry out an economic transaction of a good or service that lasts before and after the moment of purchase. There are five steps in the consumer decision process, which help in the purchase action, which are:

  1. Problem Recognition
  2. Information Search
  3. Evaluation of Alternatives
  4. Purchase Decision
  5. Post Purchase Behavior

Therefore, there are also other exchange processes, such as coincidence of wants, barter and voluntary exchange, which are processes that take place to benefit both parties in an economic exchange without the use of money.

Find out more information about Buyer Decision Process here:

brainly.com/question/13246163

8 0
3 years ago
Donovan Company incurred the following costs while producing 500 units: direct materials $10 per unit, direct labour $25 per uni
Dafna1 [17]

Answer:

Option (D) is correct.

Explanation:

Unit product cost:

= Direct materials + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead

= $10 + $25 + $15 + $20

= $70

Operating income using absorption costing:

= (500 units × $100) - (500 units × $70) - (500 units × $5) - $7,500

= $50,000 - $35,000 - $2,500 - $7,500

= $5,000

8 0
4 years ago
Your health club is offering a free one-year membership for the person who attends the most yoga classes in March. This results
nalin [4]

Answer:

The economic principle is "people usually exploit opportunities to make themselves better off".

Explanation:

Here, the health club is offering a free one-year membership for the person who attends the most yoga classes in March.

So, there is an opportunity for every individual to get a free one year membership. <em>So, more and more people will try to attend more yoga classes in order to obtain free membership for one complete year. </em>This choice will be made by most of the individuals because they want to get rid of paying fee every month. Hence, <em><u>this will tend every individual to grab and exploit that opportunity to make themselves better off.</u></em>

Thus, the increase in people attending yoga classes is based on the economic principle "people usually exploit opportunities to make themselves better off".

4 0
3 years ago
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